Hain Celestial acquires MaraNatha, SunSpire brands
March 06, 2008
by FoodBusinessNews.net Staff
MELLVILLE, N.Y. — The Hain Celestial Group, Inc. has acquired the MaraNatha and SunSpire brands, along with their nut butter manufacturing facility in Ashland, Ore., from American Capital Strategies, Ltd.
"Adding the category leader MaraNatha to our natural and organic portfolio of brands strengthens Hain Celestial’s position in the growing nut butter category and expands our variety of offerings with almond, cashew, macadamia and other blended nut butters," said Irwin D. Simon, president and chief executive officer of Hain Celestial. "Additionally, SunSpire, with its natural and organic chocolate products, provides an exciting entry into the natural candy category, including confectionery ingredients, where we do not have a presence today. Each of these categories is poised for expansion in the natural and grocery channels."
MaraNatha and SunSpire had sales of about $40 million in the U.S. and Canada in the last year. The terms of the transaction were not disclosed, but it is expected to be accretive to Hain Celestial’s earnings during fiscal year 2009.